Review
Confession
Culture
Grenfell disaster
Penitence
7 min read

Watching Grenfell: the lost art of penitence

As the Grenfell Inquiry reports, Graham Tomlin recalls a remarkable film that brought home the horror of what happened

Graham is the Director of the Centre for Cultural Witness and a former Bishop of Kensington.

An aerial view across West London towards Grenfell Tower
Courtesy the artist - Steve McQueen, Grenfell, 2019, via Serpentine Galleries.

The camera looks down over fields, the green and pleasant land of England far below. It moves slowly over the landscape until gradually it begins fly over the streets and parks of North London, past Wembley Stadium with its well-known arch, curving into the sky and back down again, and finally, as the urban sounds grow louder, it begins to home in on a small dark rectangular spot in the centre of the screen. As it gets closer, the familiar outline becomes clear. It is Grenfell Tower.  

Today when you go past the Tower, just off the Westway, a major road artery into central London, the Tower, or at least the remains of it, is covered in white plastic sheeting. It’s a kind of compromise between those local people who can’t bear to look at it every day, and those who want it to remain visible as a stark monument to the injustice and greed that led to the fire that killed 72 people in June 2017. 

Steve McQueen is a Londoner, a well-known filmmaker, Director of 12 Years a Slave and winner of the Turner Prize. As the plastic sheeting was about to go up to hide the grim nakedness of the Tower, he wanted to ensure the story of Grenfell was not forgotten, so filmed the building in January 2019 just as the ghostly shroud begun to creep up the side of the building. His remarkable film, simply called Grenfell, has been showing at the Serpentine Galleries in Hyde Park. He recently voiced dismay that few politicians had come to see the film, despite being invited. They really missed something. 

As the camera revolves around the Tower, there is no sound, no commentary at all, as if there are no words to describe what happened here.

The camera homes in on the tower, and gradually begins to rotate slowly around it. We peer into the rooms of this tall, charred block, standing like a black cliff face, a literal tomb in the heart of London. Behind it, there is the gleaming shining face of the Westfield shopping centre, cars driving up and down the slick dual carriageway that flows past it, but the focus is relentlessly on the horror of the Tower in front of us. The camera goes round and round, occasionally drawing out, but then being drawn back in, mesmerised by the blackness, the darkness, the shell of the Tower and the ghosts of the lives it destroyed.  

Watching it brings on a mixture of fascination and nausea. Nausea from the relentless circular motion of the camera. Fascination at the details – pink plastic bags of debris in what was someone’s living room; the remains of a kitchen cabinet that had somehow survived the inferno. And for me personally, as the Bishop of Kensington at the time, memories of being there on the day, watching the tower burn; talking and praying with dazed survivors, evacuated from the blocks around Grenfell; listening to firefighters with the agonising dilemmas of trying to reach the highest floors, with breathing apparatus that wouldn’t allow them to get there. As the camera revolves around the Tower, there is no sound, no commentary at all, as if there are no words to describe what happened here. We see into the flats that were once homes, with kitchens, bedrooms, toys and family mementos. We look into the haunting floors at the top of the tower in which many of the victims died, pushed upwards by the flames and the advice to stay put until help came, but of course none ever did.

It doesn’t annul the pain, doesn’t offer easy, facile optimism, pretending that the awfulness doesn’t matter. Yet it makes contemplating it bearable. 

Watching the film reminded me of standing before a medieval painting of the crucifixion, such as Grünewald’s famous Isenheim altarpiece. Pilgrims would stare for hours at such paintings to bring home to their hearts and minds the consequences of their sins, and to help them resolve to live differently. We don’t do penitence well in our culture. This is a penitential film, and it’s what the politicians who didn’t turn up to watch it have missed.  

  

an altarpiece depicts the crucifixion of Christ.
The Isenheim altarpiece

Steve McQueen, just like Matthias Grünewald, wants us to look hard at the reality of what we have done - innocent life lost in the most horrific way. The altarpiece focuses on the intense suffering of Christ, the stretched sinews, the blood pouring from the wounds, the agony of those helplessly watching on. Just like this film that keeps your eyes fixed on the shattered shell of a building, the painting doesn’t let your eyes stray from the grim reality.

Yet there is a difference. Just faintly in the dark distance of Grünewald’s painting are the glimmers of dawn. On the horizon, the sky lightens, just a little. It is of course a reference to Resurrection, just around the corner. It doesn’t annul the pain, doesn’t offer easy, facile optimism, pretending that the awfulness doesn’t matter. Yet it makes contemplating it bearable. It allows you to focus on the revulsion, yet makes it endurable by offering the hope of Resurrection. And as Christian thinkers and pray-ers have insisted over the years, you only get to Resurrection through death, not by avoiding it.  

At the time of the fire, I remember doing numerous media interviews with news outlets from across the world, with journalists hungry for some words to satisfy the global fascination with this tragedy. What could I say? What could possibly make sense of such a thing? I resolved that in every interview I would try to acknowledge the dreadfulness of what had happened, but also to strike a note of hope - that that despite what had happened, lives could be rebuilt, a community could find healing, then there was a road out of pain, one day, to peace – all because I am a Christian, and therefore have to believe that resurrection follows death. 

Steve McQueen's brief film is compulsive watching. If you get a chance, you really should see it as something that brings home the horror of Grenfell more than anything I have seen. It is Grenfell’s Good Friday. Grenfell’s altarpiece. Watching it with Christian eyes, however, I kept looking for the glimmers of dawn. 

Grenfell has been subject to a huge amount of commentary since the fire. There are those on the left who see it as a monument to corporate greed and capitalist rapaciousness. They demand Justice for Grenfell, which for many, means locking up or punishing the guilty. There are those on the right who see it a simply a dreadful accident that could have happened anywhere. One side calls it a crime. The other calls it a tragedy. Which was it?

The Left is perhaps rightly consumed with anger, demanding justice, legal convictions as resolution. Many on the Right look for a while, yet eventually avert their gaze, thinking it of it as one of those things, just an awful tragedy. I remember a Council official saying to me: “Well, one day, we just have to move on from Grenfell.”  

What happens beyond lament? It is one thing to grieve those who died. It’s also something else to critique the failures that lead to it. Issuing prison sentences to the guilty may satisfy the desire for justice, but doesn't in itself bring about a new, hopeful, common life that renders simply unimaginable the pattern of moral compromise and sheer carelessness for the safety of others that led to Grenfell. On the other hand, simply consigning it to the category of awful accidents doesn't take seriously the grievous sins that led to the fire, and fails to give due recognition to the suffering of those who died.  

Neither left nor right can offer us a sure way forward. That is where we are short of vision at the moment. An event like Grenfell easily falls off the radar of public attention because we don't want to look at it. Any maybe that is because we're not sure it will ever get any better. We need a way to keep looking at something painful until it is healed. That is the point of penitence - to go back to painful places in our lives to find healing. Yet you can only really do that if you believe healing can be found, that death ends in life, not the other way round. 

The Christian story that holds together death and resurrection, Good Friday and Easter Sunday enables us to look at death and tragedy and horror full in the face as this film so eloquently enables us to do. It enables penitence to be hopeful, not hopeless. Yet, it also enables us to bear it, because alongside it, it says that there is a reality beyond both crime and tragedy, that is not just retributive justice but a deep underlying trajectory of the world that is headed for life not death. 

Of course, the Resurrection is not a political solution. It doesn’t convict the guilty or dictate future housing policy, important as those are. But it points us to the deeper reality - that perhaps what we need today is not so much political but spiritual renewal. We need a deeper vision of life and death that gives us a reason to hope, that offers a future. We need a bigger story, a story that kindles hopefulness, that can stir hopeless hearts and the glimmers of dawn, even in the darkness of a world filled with so much pain.  

Article
Culture
Economics
Ethics
1 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.